View Poll Results: Should the Big Bankers and Walll Street execs get jail time?

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  • YES!

    36 64.29%
  • NO!

    8 14.29%
  • Too complicated to determine!

    2 3.57%
  • Other! Please explain.

    10 17.86%
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Thread: Should the Big Bankers and Wall Street execs get jail time?

  1. #31
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    Re: Should the Big Bankers and Wall Street execs get jail time?

    Would some of you that believe the bankers should be in jail, please pick one or more specific people and name the specific law(s) broke and include the supporting evidence?

    Thank you. I look forward to your replies.

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  2. #32
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    Re: Should the Big Bankers and Wall Street execs get jail time?

    I don't recall any executives from GM going to jail? or farmers? or the dead beats that have been living off the government for years when they could probably work. Liberals always want to jail or steal from working class Americans

  3. #33
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    Re: Should the Big Bankers and Wall Street execs get jail time?

    The problem with putting bankers in jail is the distinction between financial and executive responsibility on one hand, and criminal responsibility on the other. A person can be financially and legally responsible for the criminal actions of others, but cannot be held criminally responsible unless the person ordered, participated in, or otherwise was an accessory to criminal activity. Most of the real crimes weren't done at the executive level, they were done by traders and account managers. Putting CEOs in jail for the misdeeds of their subordinates would be like putting the President in jail because an EPA official took a bribe.

    The reason regulators and prosecutors have been taking the path they've been taking is because record breaking fines and huge swathes of new regulations are far more satisfying than making 25-year old traders do a perp walk.

  4. #34
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    Re: Should the Big Bankers and Wall Street execs get jail time?

    Quote Originally Posted by DaveFagan View Post
    When a bank is fined $$$$billions of dollars and agrees to pay it, don't you think that a crime must have been committed? Is a little common sense in order?
    Large organizations create diffuse responsibility to the point where it's impossible to prove who did what. You could say, "Well, just get the CEO, the buck stops with him." The problem with that is that it's not illegal for a CEO to be incompetent and out of touch with his organization. Our own President gets away with claiming he doesn't know anything every time something goes wrong("First time I heard about it was on the news!").

  5. #35
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    Re: Should the Big Bankers and Wall Street execs get jail time?

    Anybody that breaks the law should be punished.

  6. #36
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    Re: Should the Big Bankers and Wall Street execs get jail time?

    Yes without exception. We could even make use of texas justice for once.

  7. #37
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    Re: Should the Big Bankers and Wall Street execs get jail time?

    Absolutely positively YES YES a thousand times YES.
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  8. #38
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    Re: Should the Big Bankers and Wall Street execs get jail time?

    Quote Originally Posted by TurtleDude View Post
    jail should be reserved for people who have to be physically incapacitated so they do not harm others. If people defraud others sue them into the poor house.
    So Madoff in your view should be a poor, yet free man? That's absurd. At some point fraud and financial illegalities rise above the level of deserving merely monetary punishment.
    Last edited by a351; 10-26-13 at 07:33 AM.

  9. #39
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    Re: Should the Big Bankers and Wall Street execs get jail time?

    So I guess no one really knows who specifically should be prosecuted for what. That's what I thought.

    Just feels good to rant against The Man, I guess.

    .

  10. #40
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    Re: Should the Big Bankers and Wall Street execs get jail time?

    Quote Originally Posted by TOJ View Post
    So I guess no one really knows who specifically should be prosecuted for what. That's what I thought.

    Just feels good to rant against The Man, I guess.

    .
    In fact, it is the Mortgage tranches where large numbers of mortgages are grouped together and sold as an investment vehicle. Some group is in charge of this department. Then the investment vehicles are promoted by marketing people as investments that will likely pay a decent return. However, at this point B of A, JP Morgan. etc., bet against their own investment vehicles that they were promoting to their customers. That's fraud or I'm pretty sure it's fraud. Same as a used car dealer telling you a car is fine when he knows it is going to crap out in 600 miles. You have to prove these things, but what I have stated has already been proven. Nowadays, the FED's QE program is purchasing these mortgages to bail out the same criminals, I guess.

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